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Jun 1, 2017 10:00:00 AM

Should the Annual Budget Cycle Go Away?

Raise your hand if you’re looking forward to your annual budget process this year. Obviously, I can’t see who has their hand up and who doesn’t. But I’m willing to bet that very few, if any, of you read that first line and thought, “Oh yeah, I can’t wait!” The yearly process of asking for the moon and getting back a lump of green cheese eats up a significant amount of a business’ productive time and can often have a negative impact on morale in many departments. Nevertheless, it’s unreasonable to think that any business can function effectively without an accurate forecast of the revenue and expenses expected in the months and years ahead. Many companies have turned to a more flexible and less onerous approach, the rolling forecast.

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Topics: Budgets, Annual Budget Cycle

Dec 17, 2015 11:00:00 AM

States Scramble to Replace Plummeting Oil Tax Revenues

Alaska’s governor unveiled a controversial new state budget proposal earlier this month, and the provisions in the plan should be of interest to businesses operating in states that are heavily dependent on oil tax revenues, such as Louisiana, Texas and North Dakota. The governor’s plan is designed to close a $3.5 billion deficit in state revenue created, in part, by falling oil prices.

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Topics: Amnesty, Budgets, Oil Tax Revenue